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"Global cooperation to synchronize monetary policy must be high on the agenda," he said, adding that money authorities can deploy variants of special lending schemes that aim at to lower the costs of borrowing. "If economic and financial conditions were to deteriorate further, policymakers could revert to the broader toolkit that was developed during the 2008 global financial crisis."

"Five to eight thousand yuan is the most popular price range," she said.

"For Guangzhou it is very challenging, trying to protect the city's heritage while at the same time looking to the future," said Octavio de la Varga, Secretary General of the World Association of the Major Metropolises (Metropolis). His first visit to the city was in December, 2016, where he took part in the third Guangzhou International Award for Urban Innovation and toured the city's many arcades, the Guangzhou Theatre and Guangzhou Museum.

"Government agencies, in fact, have taken some measures and made some rules in the past few years to maintain order in the development of new technologies. But it's not enough, and the situation needs to be adjusted in a systematic manner," he said.

"For many fresh graduates, the primary issue is the hukou because the document is closely related to the rights and social services they can enjoy - for example, buying homes or getting medical treatment," she said.